Finance Minister Muhammad Aurangzeb hinted at the privatisation of Pakistan International Airlines (PIA) first over all other state-owned enterprises (SOEs).
Speaking to media persons after filing his nomination papers for Senate elections, Muhammad Aurangzeb said that the PIA has been first in the line for privatization, and all other institutions will come later.
Muhammad Aurangzeb said that it is not the government’s job to do business, it has only to formulate policies.
Earlier, it was reported in local media that the privatisation of PIA is projected to be one of the most intricate transactions tackled by the Privatization Commission (PC), necessitating a detailed 30-step plan for completion and fulfilling this ambitious agenda could span from six months to a year.
A significant hurdle in the process involves obtaining No-Objection Certificates (NOCs) from around 35 lenders, a task with an unpredictable timeline due to PIA’s financial struggles.
Part of the preparation involves PIA’s division into two separate entities, a process entailing multiple steps itself.
